New Issue: HSBC prices $25.4 million STEP Income Securities linked to Masco

New York, July 1 – HSBC USA Inc. priced $25.4 million of 8% STEP Income Securities due July 13, 2015 tied to Masco Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above the step level of $23.86, 108% of the initial price, the payout at maturity will be par plus 4.45%. If the stock finishes at or above the initial share price but below the step level, the payout will be par. Investors will lose 1% for every 1% decline in the stock.

Merrill Lynch & Co. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	STEP Income Securities
Underlying stock:	Masco Corp.
Amount:	$25,403,980
Maturity:	July 13, 2015
Coupon:	8%
Price:	Par
Payout at maturity:	If stock finishes at or above the step level of $23.86, 108% of the initial price, par plus 4.45%; if stock finishes at or above initial share price but below step level, par; 1% loss for every 1% decline
Initial price:	$22.09
Pricing date:	June 26
Settlement date:	July 3
Underwriters:	Merrill Lynch & Co.
Fees:	1.75%
Cusip:	40434C410

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